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LATEST NEWS COMMENTS

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Business

Zimbabwe intends to Distribute Diamonds to China, Dubai, Israel

Zimbabwe intends to Distribute Diamonds to China, Dubai, Israel

By Godfrey Marawanyika

Zimbabwe is trying to reach an agreement to distribute its stones directly to China, Dubai and Israel without violating rules against the sale of gems from the Marange fields, Chris Mutsvangwa, chairman of the state-owned Mineral Marketing Corporation Ltd., said.


The U.S. may also get involved in discussions, Mutsvangwa said on the sidelines of a Chamber of Mines annual meeting in Nyanga today. The proposal wouldn’t violate rules because Zimbabwe outside of Marange was certified compliant in 2010.

Zimbabwe, which produced 8 million carats of diamonds in 2012 worth $865 million, is the world’s seventh largest diamond producer. Its output this year is estimated at 16 million carats, according to Mines Minister Obert Mpofu.

Diamond mining in Zimbabwe was mostly confined to central and southern parts of the country and expanded to the eastern district of Marange after the discovery of alluvial diamonds, boosting production since 2006.

Diamonds from Marange can’t be exported legally from Zimbabwe because the field hasn’t yet met an international certification standard showing that proceeds from sales aren’t used to finance conflict.

 
Business

Econet Strikes Gold in Business Awards

Econet Strikes Gold in Business Awards

By Kudakwashe Pembere,

At least 33 Zimbabwean companies yesterday received awards from a South Africa...

Business

AfDB grants Zimbabwe $25m capacity building loan

The African Development Bank (AfDB) has granted Zimbabwe a $24,7 million loan to support the country...

Business

Zimbabwe Govt criticised for ‘secretive’ mining deals

Zimbabwe Govt criticised for ‘secretive’ mining deals

By Alex Bell

The government is facing criticism for a number of ‘secretive’ mining deals across Zim...

Business

S.Africa army choppers to Zimbabwe delayed again

S.Africa army choppers to Zimbabwe delayed again

By Globalpost

A South African court on Thursday further delayed a donation of military helicopters to...

Business

How to Harness the Sun for Your Home – Key Components

How to Harness the Sun for Your Home – Key Components

Using the power of the sun is becoming increasingly attractive from an economic and environmental a...

Business

Gono dismisses government threats to seize foreign-owned banks

Gono dismisses government threats to seize foreign-owned banks

By AFP

Zimbabwe's central bank chief on Wednesday dismissed government threats to seize foreign-owned...

Business

TM Supermarkets refurbishes stores in Zimbabwe

TM Supermarkets refurbishes stores in Zimbabwe
By Tawanda Karombo

 ZIMBABWE’S TM Supermarkets, in which Pick n Pay is a partner, has invested...

Business

Zimbabwe's recovery marks another positive step

By Jamie Ashcroft

Lifting of the majority of EU sanctions in Zimbabwe marks another positive step in ...

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